CoinSwitch Report Says Its Reserves Exceed Customer Holdings, Can Cover All User Redemptions

CoinSwitch Report Says Its Reserves Exceed Customer Holdings, Can Cover All User Redemptions

ByNews Polite

India’s CoinSwitch crypto exchange published the third edition of its Proof of Reserve (PoR) on Thursday, May 23. The report claimed that the worth of total consumer holdings on CoinSwitch, including both cryptocurrencies and INR, stood at Rs. 2, 774.10 crore as of March 31, 2024. The exchange also disclosed…

Suspicious Transactions Worth 0 Million Scanned by Law Enforcement Agencies in Last 5 Months: WazirX

Suspicious Transactions Worth $390 Million Scanned by Law Enforcement Agencies in Last 5 Months: WazirX

ByNews Polite

Between October 2022 and March 2023, India’s WazirX crypto exchange received 431 requests from law enforcement agencies seeking details of suspicious transactions. The amount of capital tied to these requests summed up to a whopping $390 million (roughly Rs. 3,222 crore). The information was disclosed by WazirX in its fourth…